Value and Exchange

Is Australia a dry country? Not at all, writes Benjamin Marks. It has more rainfall than the United States!

Frank Shostak explains what Mises meant when he wrote that: "The Santa Claus principle liquidates itself." Most individuals in the western world take the ample availability of goods and services for granted.

Protection or Free Trade, published in 1886, is undoubtedly one of the most significant works ever written on the subject, writes Laurence Vance.

The body-weight crusaders continue their Quixotic struggle, writes Gard Goldsmith, because they believe in the Marxist myth that the owners of the means of production make people buy things.

Stefan Karlsson considers the income effect and concludes that its very existence demonstrates the failure of the state to improve the social order.

Congress just passed another regulatory bill, Lew Rockwell reports, because people with food allergies are under the impression that food sellers are indifferent to whether they live or die.

So now we are supposed to worry about those deprived of chain supermarkets. William Anderson notes how the academic left shifts gears.

Did the EU bring free trade to Europe? Not at all, says Terry Arthur. The heyday of free trade was the 100 years between the Napoleonic Wars and World War 1.

Neoclassical economists often make matters more complicated than necessary; but, fortunately, the best of them manage to stumble close to the truth. Jagdish Bhagwati is by no means a committed supporter of the free market. 

It is entirely within coffee-bean buyers' rights to pay any price, including an inflated price, writes Joesph Potts.